Three Hills Capital Partners (THCP) has held the final close of its third fund, Three Hills Capital Solutions III (the Fund) at its hard cap of EUR540 million after exceeding the original target of EUR400m at the first closing in September.
Three Hills Capital Partners was advised by Rede Partners, an independent fundraising and secondaries adviser to the private equity industry.
THCP’s third fund has attracted over half of its support from new institutional investors across Europe, North America and Australasia with the remaining capital coming from the ongoing support of its strategic investor base of highly connected families and high-net worth individuals.
The fast expanding THCP team of 10 investment professionals with backgrounds in private equity and credit has remained extremely active on deals throughout 2018. After holding a first close in September 2018, Three Hills Capital Solutions III is already 20 per cent invested across two established and profitable businesses; Recycling Lives, a UK- based, tech enabled international waste and recycling management business; and ACT, a Netherlands based, leading global intermediary in niche energy commodities markets.
The final closing of Three Hills Capital Solutions III follows two exits completed by THCP over the last 18 months including the sale of Genius Sports Group to Apax and the IPO of Aquafil.
Mauro Moretti, Founder and Managing Partner at Three Hills Capital Partners, says: “Achieving EUR1billion of assets under management in five years is a significant milestone for us as a business and I want to thank the whole team for the incredible effort put behind our venture; but attracting many new international LPs currently manages three funds and assets of over EUR1 billion, seeks to partner with outstanding entrepreneur owners of European mid-market businesses and support them in their next phase of growth. By providing a tailored capital solution, which includes minority equity and debt securities, THCP allows the entrepreneur to retain ownership whilst ensuring sufficient controls and an attractive risk adjusted return profile from the debt and equity, which has historically delivered from beyond our original loyal investor base is a truer sign of our successful strategy of approaching the private equity industry in a differentiated way.”
“We have found there are many entrepreneurial management teams from across Europe that are in need of supportive capital to grow their businesses, but want to retain control of their companies. Three Hills is prospering because we have devised a flexible way of investing the fresh capital into businesses without also being a pervasive presence.”
